J&J tops 4Q earnings forecasts as profit, revenue slip

KIFI

Published January 24, 2023 4:49 AM

By TOM MURPHY
AP Health Writer

Johnson & Johnson beat earnings expectations in the final quarter of 2022 even as a strong dollar and sinking COVID-19 vaccine sales hurt revenue. The health care giant said Tuesday that fourth-quarter earnings slipped 26% to $3.52 billion and revenue declined 4% to $23.7 billion. Adjusted earnings totaled $2.35 per share. Analysts expected earnings of $2.23 per share on $23.9 billion in revenue, according to FactSet. For 2023, the company expects adjusted operational earnings of between $10.40 and $10.60 per share, a range that starts off well above Wall Street expectations. Analysts forecast earnings of $10.33 per share.

Article Topic Follows: AP National Business

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